~ USA Headed for a 5th Revolution! Why?

#86 Is North Carolina the “Stealin’ State”?

(Readers: Please note the blog is constructed as a story. While not all chapters are linked, after reading a few recent entries, you might want to start at the beginning. More about the blog and about the author. )

Scene: Jordan having coffee with JC at usual spot near office in Washington, DC. Jordan holds up newspaper article.

Jordan: “When I was at Buick it was not unusual to find people who were 3rd generation. Same town, same factory.”

JC: “If you take the three generations, there’s what 100 years…or more seniority in one family. That’s a lot of time devoted to one company.”

Jordan: “Right. Seems like a major commitment to me.”

JC: “A major commitment but the people also got paid along the way. So what’s the big deal?”

Jordan: “You don’t get it, do you, which is really surprising coming from you. The big deal is people. People make up organizations. Paychecks don’t make organizations.”

JC: “I agree that families, companies, even cities are built around people.”

Jordan: “And people create and build an emotional bond with the organization.”

JC: “OK but I’m still not following why recruiting jobs from another state should be labeled as stealing. What am I missing?”

Jordan: “What has the recruiter done to help build the organization and the emotional bond?”

JC: “Nothing really. But the recruiter does offer incentives. Now that I said that, the incentives are really for senior executives…and not the worker bees.”

Jordan: “To me allowing one state to recruit companies…really jobs…from another state, perverts the incentive to create jobs. Allowing recruiting destroys loyalty and prevents workers from building a strong emotional bond with the company.”

JC: “So my cynical self says, so what? Who really cares about the workers? Why shouldn’t management take a few bucks?”

Jordan: “Yes, your cynical self has taken over. But now I know you understand why I am frustrated with the program. Money talks…but only for a very few. A lot of other people get the finger.”

JC: “I see what you mean by calling it stealing. People put a lot of time and effort into building an organization…and then wham, management packs up and leaves.”

Jordan: “Most people think about stealing in terms of not paying for goods or services. You know, like walking out of Best Buy with a computer or skipping out of a restaurant and not paying for dinner.”

JC: “But you want to expand the definition.”

Jordan: “I’m not expanding the definition. Just making sure people include one thing that cannot be purchased and cannot be replaced.”

JC: “Is that one thing…time?”

Jordan: “Yes, time. What many executives and especially investors seem to forget is the value of time.”

JC: “Give me an example.”

Jordan: “I can’t tell you how many times I’ve heard prospective investors ask, ‘How much skin…meaning how much money… you have in this project?”

JC: “Seems like a fair question. How do you answer them?”

Jordan: “With another question.”

JC: “What else coming from you. What’s the question?”

Jordan: “Simple. ‘Can you buy yesterday?’”

JC: “Can you buy yesterday?”

Jordan: “Yes. Simple question with a simple answer.”

JC: “The answer is always ‘no’.”

Jordan: “Think about it, regardless of how much money one has, yesterday is not for sale.”

JC: “So how do the investors respond?”

Jordan: “Surprisingly, most have never been asked the question…or even thought about it.”

JC: “Does the question change the tone of the conversation?”

Jordan: “Sometimes. But my experience has been most investors, especially private equity firms and investment banks are so focused on one thing – how much money can they make – that they do not care about your time and commitment. To them one’s time is of no value.”

JC: “Without sounding too much like a Republican, isn’t that why they’re in business – to maximize profits?”

Jordan: “Partially. But not the entire reason for being. The companies do have an obligation to society.”

JC: “Surely you are not opposed to letting investors make money?”

Jordan: “I’m all for making money, but not at the expense of destroying families, institutions and cities.”

JC: “You’re sounding like a populist.”

Jordan: “Maybe so but this is a conversation that society needs to have.”

JC: “Anyway, we started this conversation by you stating the state of North Carolina was stealing. If I understand your logic, recruiting companies to relocate in North Carolina, or any state for that matter, is stealing from families and cities where the organization is located currently. Right?”